Question: Barkley Sales Inc ended 2014 with 10 million shares of

Barkley Sales, Inc., ended 2014 with 10 million shares of $ 1 par common stock issued and outstanding. Beginning additional paid-in capital was $ 9 million, and retained earnings totaled $ 44 million.
In April 2015, Barkley Sales issued 9 million shares of common stock at a price of $ 2 per share.
In June, the company declared and distributed a 10% stock dividend at a time when Barkley’s common stock had a market value of $ 12 per share.
Then in September, Barkley’s stock price dropped to $ 1 per share and the company purchased 9 million shares of treasury stock.
For the year, Barkley Sales earned net income of $ 24 million and declared cash dividends of $ 13 million.

Complete the following tabulation to show what Barkley Sales should report for stockholders’ equity at December 31, 2015. Journal entries are notrequired.

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  • CreatedJuly 25, 2014
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